NexMetals Completes P350 Million Payment to Secure Full Ownership of Former BCL Mines

NexMetals Completes P350 Million Payment to Secure Full Ownership of Former BCL Mines. Canadian junior mining company NexMetals Mining Corp. has finalised a key transaction in its Botswana portfolio after completing a milestone payment to the liquidator of the former BCL operations. The company confirmed that it has now settled the outstanding balance required under its Asset Purchase Agreements for the Selebi and Selkirk mines.

According to the announcement, NexMetals paid US$25 million, an amount equivalent to roughly P350 million, to meet the terms of the agreements and secure full, unencumbered ownership of the two mining assets. The payment marks a significant step in the company’s acquisition process, bringing closure to a transaction that has been monitored closely within Botswana’s mining and investment circles.

The Selebi and Selkirk mines, once operated under the BCL Group, form part of a strategic cluster of mining opportunities previously placed under liquidation. NexMetals’ payment confirms the transfer of ownership and positions the company to move ahead with its development plans for the assets. No further details on the company’s next steps were provided in the announcement.

The completion of the payment is expected to draw attention from local service providers, contractors, and suppliers who have been tracking developments around the former BCL properties. With ownership now confirmed, the focus will shift to how the new holders intend to advance exploration, operational planning, and potential reactivation activities in the coming period.

The transaction also closes a significant chapter in the disposal of BCL-era assets, which have undergone extended processes of assessment, legal oversight, and negotiations over recent years. NexMetals’ fulfilment of the US$25 million obligation affirms its commitment to the Botswana acquisitions and provides clarity on the status of the Selebi and Selkirk properties going forward.